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The Economics of Organization: The Transaction Cost Approach

Autors:

Oliver E. Williamson

CiteWeb id: 20150000012

CiteWeb score: 6002

DOI: 10.1086/227496

The transaction cost approach to the study of economic organization regards the transaction as the basic unit of analysis and holds that an understanding of transaction cost economizing is central to the study of organizations. Applications of this approach require that transactions be dimensionalized and that alternative governance structures be described. Economizing is accomplished by assigning transactions to governance structures in a discriminating way. The approach applies both to the determination of efficient boundaries, as between firms and markets, and to the organization of internal transactions, including the design of employment relations. The approach is compared and contrasted with selected parts of the organization theory literature.

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Also in the category Sociology it is included to the Top 1000. Additionally, the publicaiton "The Economics of Organization: The Transaction Cost Approach" is placed in the Top 100 among other scientific works published in 2015.

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